Forex News and Rumors – Afternoon Update

Stocks Fall as Worries Grow

Despite the fact that President Barack Obama is due to sign the $787 billion stimulus bill into law today, major stock markets around the world lost value as investors worry that several major companies could soon fail. More

Oil Prices Continue to Retreat

As global demand for oil decreases, prices continue to fall by more than 8 percent in New York today. More

Sterling Gains on Euro

Today’s inflation results in the UK showed that the economy has contracted at a slower pace than expected causing some investors to question whether the Bank of England may hold off on expected interest rate cuts. More

German Investor Confidence Climbs

Just days after the European Central Bank indicated that it will cut interest rates to a record low, investor confidence in Germany jumped by the most in over 15 years. More

Future of GM and Chrysler in Question

The fate of General Motors and Chrysler are very much at the fore today as both are required to submit plans to the government showing how the companies intend to remain solvent and pay back taxpayers. Even so, an aide to President Obama said today that bankruptcy “can’t be ruled out”.

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